AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD traded a tad higher against the USD to close at 0.7492.
LME Copper prices declined 3.32% or $191.5MT to $5570.0/MT. Aluminium prices declined 2.43% or $41.0/MT to $1644.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7477, with the AUD trading 0.2% lower from yesterday’s close.
Overnight data showed that Australia’s AiG performance of construction index eased to a level of 46.4 in June, from previous month’s 47.8.
Earlier today, the RBA opted to keep benchmark interest rates unchanged at 2.0% for the second consecutive month at its July monetary policy meeting.
The pair is expected to find support at 0.745, and a fall through could take it to the next support level of 0.7422. The pair is expected to find its first resistance at 0.752, and a rise through could take it to the next resistance level of 0.7562.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
